FX.co ★ Trading plan for the EUR/USD pair on October 26. New peak in COVID-19. Big news from Europe and the United States.

Infection rate surged again in the United States yesterday, having recorded a new peak of 80 thousand new cases a day. At the same time, France overtook India on having the second highest incidence rate, after it listed 52 thousand new cases yesterday.

Overall, the total number of new cases in the world is almost half a million per day.

With regards to medicine, vaccinations will finally begin at the end of November. But until then, people should take care of themselves and wear protective masks when coming outside of their homes. According to experts, wearing masks in public places reduces the likelihood of contracting the virus by a huge 80%.

The US market is ready for a new round of growth. However, it would depend on the upcoming US elections. If the market peaks before the elections, sell stocks.

EUR/USD: The euro is consolidating.

Keep setting up long positions, but place the stops at 1.1700 or 1.1770

Meanwhile, open short positions from 1.1770.

Longs may also be opened from 1.1865

News on US GDP, as well as the statements from the ECB, could turn the direction of the market.